STANDARD & POOR'S RAISES ITS RATINGS OF AMERICAN SAVINGS BANK FSB

Moody's Investors Service also upgrades American's financial strength ratings

HONOLULU - Two premiere rating agencies have both recently raised American Savings Bank's credit ratings.

Standard & Poor's Ratings Services recently raised its long- and short-term ratings on American Savings Bank FSB from "BBB-/A-3" to "BBB/A-2," reflecting improvement in the bank's interest rate risk, funding profile, and capital leverage.

"This action reflects the improvement in the bank's interest rate risk and funding profiles," said Standard & Poor's in a press release, reflecting the benefits of American's effort to become more of a community bank. Standard & Poor's is one of the foremost providers of independent credit ratings, indices, risk evaluation, investment research and data.

Moody's Investor Service also recently raised its long-term rating on American Savings Bank from "Baa3" to "A3." The rating change followed an upgrade in the Bank's financial strength rating. American was included in a list of banks which received upgraded financial strength ratings from Moody's Investors Service as part of its updated bank financial strength rating methodology and application of its joint default analysis (JDA) methodology. According to Moody's release, the new methodology enhances both the transparency and consistency of this type of rating. Moody's Investors Service is a widely used source for credit ratings, research and risk analysis.

Serving Hawaii's businesses and communities for more than 80 years, American Savings Bank is Hawaii's third-largest financial institution with $6.8 billion in assets and the second-largest branch network in the state, with 64 branches and nearly 200 automated teller machines. American Savings Bank provides a full range of financial products and services, including commercial banking and consumer deposits and loans. For more information, visit asbhawaii.com.